Digitization must enable new value creation for customers
market, delivering on expectations across the value
Digital Transformation in BFSI
Digitization must enable new value creation for
customers in BFSI market, delivering on expectations across the value
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28 Mar 2023
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To Mr. Pham Thai Son, CEO of NTQ Solution, each business trip leaves behind a handful of new lessons & experiences. In his recent trip to Japan earlier this year, he found that the market is changing in many aspects in terms of how Japanese firms evaluate the tech capacity of Vietnam companies, and different ideas to leverage the NTQ’s services further to match the current market needs.
In the first episode of Beyond Global In Action, let’s take a look at some key takeaways of Mr. Son from his recent business trip to Japan through a short conversation below!
Q: Can you share some general information about your recent business trip in Japan?
A: The trip occurred during the first quarter of the new year, which is also the end of the fiscal year in Japan. I want to take this occasion to visit our current customers to overlook what we have achieved in the previous years and explore how we can leverage our scope of partnership in the new year.
I can tell that the trip was successfully concluded with many promising opportunities awaited. Through discussions with clients & partners in Japan, we saw many positive results of all completed & on-going activities in the previous year, which poses a vision to expand the scale of partnerships & projects in the upcoming future.
Q: Can you tell about the current situation of the Japanese market based on your observations during the trip?
A: “Digital Transformation” is the most notable keyword many Japanese enterprises mention this year. However, they face many difficulties in taking action due to a shortage of human resources. That’s one of the main worries I heard from discussions with my clients & partners.”
This situation can be a bright opportunity for NTQ Solution and many other ICT companies in Vietnam to venture into the Japanese market. Currently, there are more than 450,000 Vietnamese people living and working in Japan. Looking through these facts, I can see the area for NTQ Solution to deploy a high-quality recruitment service in Japan, which not only helps to solve the human resource shortage in the country but also offer job opportunities for Vietnamese people.
Q: Compared to the previous era, do you see any difference in the way Japanese firms and Vietnamese IT companies cooperate nowadays?
A: Many years ago, Japanese firms were very conscious of the tech capability of Vietnamese IT companies. However, the situation is much better than before when Japanese firms are looking for a larger collaboration model, which proves that Vietnamese IT firms have gained greater trust from Japanese partners.
Aside from opportunities, ICT firms in Vietnam must continuously improve their expertise to maintain this credibility and gain higher status in the global market. To do so, they must regularly update their business model, improve human resources’ capabilities and diversify product & service offerings to match the ever-changing market. For NTQ Solution, we have built a long-term plan to prepare for the future.
Q: How has NTQ Solution prepared for these changes?
A: Our main priority is to keep improving our service & product quality while expanding our business scales by opening up new areas of offerings and establishing new offices in the heart of Japan.
Specifically, we will scale up our products & solutions aligning with recent tech trends, including VR, Low-code, and Security, moving from Dev Ops to Dse Ops… Regarding service quality, we already plan to move to a new office with a wider scale in the center of Tokyo, aiming to further increase NTQ Solution’s entity and approach closer to our customers & big enterprises in Japan.
Improving human resources is one of our key strategies in the upcoming phase. We tackle the human resource shortage by executing the JP300 (Achieve 300 employees in Japan) and deploying IT recruitment services in Japan. We hope to achieve positive outcomes and soon become one of the most influential Vietnamese enterprises in the global market.
Q: What are the inner resources that NTQ Solution currently has to realize the goal in Japan?
A: We can implement higher complex services in Japan at the current state. For example, we have already established a consulting firm – NTQ Consulting Japan – with 100% experienced Japanese employees. With this capability, we can understand the local market landscape, helping standardize products & services to match local requirements.
With the help of policies & regulations from the government, NTQ Solution will be able to have many more opportunities to strengthen its identity not just only in Japan but also in many other countries in the world, kicking a greater motivation for us to realize the “Beyond Global” goal this year!
Q: Do you have any recommendations for Vietnamese IT Companies when going global?
A: There are many opportunities for Vietnamese IT Companies to join the Japanese and global markets. It’s important to build a solid long-term strategy and take every step carefully to minimize risks, including identifying the current resources, understanding the local needs, and getting flexible, which is crucial to building a solid foundation to go global!
Thank you for your sharing!